Strategy, Michael Saylor's bitcoin-focused company, bought roughly 2,110 bitcoin this week. The purchase was funded entirely through proceeds from the STRC perpetual preferred stock program, which carries an annual yield of 11.5%. It's the latest in a long string of buys that have made Strategy the largest corporate holder of bitcoin.
The STRC funding mechanism
STRC is a perpetual preferred stock that Strategy launched to raise capital specifically for bitcoin acquisitions. The 11.5% yield is steep — it's designed to attract income-focused investors while giving the company a steady stream of cash to deploy into its primary asset. This week's buy shows the program is still working as intended.
What the purchase means
The company now holds over 500,000 bitcoin. By funding with STRC rather than debt or equity dilution, Strategy keeps its balance sheet flexible. The timing is telling: bitcoin's price has been choppy in May, but Saylor's team didn't hesitate. They're sticking to the playbook.
Pattern, not a pivot
This isn't a one-off. Strategy has been buying bitcoin every month in 2026, often in chunks of 1,000 to 3,000 coins. The STRC program gives them a predictable funding source, and they're using it. If anything, the pace has picked up since the start of the year.
Next up: quarterly earnings in early June. Shareholders will want to see how much more bitcoin Strategy added and whether the STRC yield is eating into returns. For now, the machine keeps running.
